Is real estate a high risk Naics code?
You Can Avoid High Risk NAICS Codes
Do so before you begin to build your NAICS codes. Here are some high-risk codes you should be aware of: … Real estate investing (this is potentially where the NAICS code for real estate would be – the NAICS code for real estate is 531390 for Other Activities Related to Real Estate)
What is lessors of real estate?
A lessor refers to a person or an entity that grants a lease. When the lease granted is for temporary use of real property, the term most commonly used for “lessor” is “landlord.” In commercial real estate, the lessor grants use of a commercial space, under a lease agreement.
What is a Naics code for business?
NAICS stands for North American Industry Classification System, and it is used throughout North America to classify businesses with a six digit number based on the primary type of work the business performs. You can find the NAICS code that most closely matches your business here: https://www.naics.com/search/.
Is real estate considered a high risk industry?
Real estate industry is an attractive target of money launderers. There are no regulators for monitoring the flow of money in this sector. … There are no obligations that require real estate agents and companies to carry out more detailed due diligence on customers.
What businesses are cash intensive?
- Convenience stores.
- Retail stores.
- Liquor stores.
- Cigarette distributors.
- Privately owned automated teller machines (ATM).
- Vending machine operators.
- Parking garages.